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Jun 2015 Statistics

Commentary: June quarter 2015

Read more about personal insolvency activity in the June quarter 2015.

Personal insolvency activity in the June quarter 2015

Quarterly personal insolvency activity in Australia

Key points

Total personal insolvencies increased 0.9% in the June quarter 2015 compared to the June quarter 2014. By type of personal insolvency:

bankruptcies increased 9.3%

debt agreements fell 10.1%

personal insolvency agreements increased 8.3%.

The rise in bankruptcies in the June quarter 2015 is the first rise since the March quarter 2014, when compared to the same quarter in the previous year.

Queensland and Western Australia accounted for most of the national rise in bankruptcies in the June quarter 2015 compared to the June quarter 2014.

Debt agreements were the highest on record in the Northern Territory in the June quarter 2015. This was the only state or territory where debt agreements increased in the June quarter 2015 compared to the June quarter 2014.

Total personal insolvency activity

The number of personal insolvencies increased 0.9% in the June quarter 2015 (6 945) compared to the June quarter 2014 (6 884) and fell 0.6% compared to the March quarter 2015 (6 989).

The rise in personal insolvencies in the June quarter 2015 compared to the June quarter 2014 was the result of rises in:

Western Australia (13.9%)

Queensland (3.8%)

South Australia (13.3%)

Victoria (0.8%)

Northern Territory (12.5%).

These rises were partly offset by falls in:

New South Wales (-6.0%)

Tasmania (-9.2%)

Australian Capital Territory (-8.4%).

The rise in personal insolvencies in the June quarter 2015 is the first rise since the March quarter 2014, when compared to the same quarter in the previous year.

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Bankruptcies

The number of bankruptcies increased 9.3% in the June quarter 2015 (4 215) compared to the June quarter 2014 (3 857) and fell 3.7% compared to the March quarter 2015 (4 379).

The rise in bankruptcies in the June quarter 2015 compared to the June quarter 2014 was the result of rises in:

Queensland (10.8%)

Western Australia (43.5%)

Victoria (8.1%)

South Australia (19.5%)

Tasmania (8.0%)

Australian Capital Territory (7.7%).

The Northern Territory was the only state or territory to record a fall (-4.5%). There was no change in the number of bankruptcies in New South Wales.

The rise in bankruptcies in the June quarter 2015 is the first rise since the March quarter 2014, when compared to the same quarter in the previous year.

Bankruptcies in Australia: % change compared to same quarter in previous year

Debt agreements

The number of debt agreements fell 10.1% in the June quarter 2015 (2 678) compared to the June quarter 2014 (2 979) and increased 4.3% compared to the March quarter 2015 (2 568).

The fall in debt agreements in the June quarter 2015 compared to the June quarter 2014 was the result of falls in:

New South Wales (-13.9%)

Victoria (-10.1%)

Queensland (-5.6%)

Western Australia (-10.3%)

Tasmania (-29.4%)

Australian Capital Territory (-23.6%)

South Australia (-0.8%).

The Northern Territory was the only state or territory to record a rise (26.9%).

The fall in debt agreements in the June quarter 2015 is the second consecutive fall, when compared to the same quarter in the previous year.

Debt agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements

Personal insolvency agreements fluctuate more than bankruptcies and debt agreements because they are so small.

The number of personal insolvency agreements increased 8.3% in the June quarter 2015 (52) compared to the June quarter 2014 (48) and increased 23.8% compared to the March quarter 2015 (42).

The rise in personal insolvency agreements in the June quarter 2015 compared to the June quarter 2014 was the result of rises in:

Victoria (54.5%)

South Australia (150.0%).

These rises were partly offset by falls in:

Western Australia (-40.0%)

New South Wales (-7.1%).

There was no change in the Australian Capital Territory, the Northern Territory and Tasmania.

The rise in personal insolvency agreements in the June quarter 2015 is the first rise since the September quarter 2014, when compared to the same quarter in the previous year.

Personal insolvency agreements in Australia: % change compared to same quarter in previous year